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Taxed Enough Already, You Say? Trump Disagrees

On June 14, the Trump administration announced that it’s raising your taxes by $12.5 billion. On June 18, President Trump followed that announcement up with the threat of another $20 billion tax hike.
Trump didn’t put it that way, of course. Instead, he described both the actual and threatened tax increases as “tariffs” on “Chinese imports.”
Don’t be fooled. No matter how he gussies them up as correctives for “unfair competition” and “trade imbalances,” tariffs are taxes on American consumers, and that’s all they are. They aren’t paid by Chinese manufacturers. They’re paid by you, at the cash register, in the form ...

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